The project vision is that in the future, companies can transfer details of business transactions and official reports in digital format. Once a company’s entire life cycle has been digitalised and the company uses a digital identity, all transactions and official reporting can be carried out on a reliable and secure basis.
Business operations become easier when companies can also produce all vouchers (orders, invoices and receipts) in electronic and machine-readable format. The data contained in these digital documents will be transferred automatically between systems. Digitalisation also means that the data on eReceipts and e-invoices is automatically entered in bookkeeping accounts.
Companies will be able to receive all financial administration reports on their business operations in real time to support decision-making. When a company has a digital identity, it can also easily check the reliability of its trading partners.
Businesses will also be able to submit all statutory notifications and reports to government agencies according to the one-time principle when the bookkeeping is in machine-readable format.
Real-time economy is jointly developed by government agencies, stakeholders and the private sector. The needs of different types of companies and enterprises as well as stakeholders are a key consideration in the development work.